Kingsgate Consolidated Limited ( (AU:KCN) ) has provided an update.
Kingsgate Consolidated Limited has reported significant financial and operational achievements for the half-year ending December 31, 2024. Key highlights include a 133% increase in revenue and a 115% rise in net profit, driven by increased gold and silver production. The company successfully recommissioned Plant 1, with both Plant 1 and 2 operating above nameplate capacity. These results have strengthened Kingsgate’s financial position, allowing for the full repayment of a $13.2 million loan and a 57% increase in cash balance, setting a positive outlook for the remainder of the fiscal year.
More about Kingsgate Consolidated Limited
Kingsgate Consolidated Limited operates in the mining industry, focusing on the production of gold and silver. The company has recently transitioned from a mining exploration entity to a mining producing entity, indicating a shift in its market focus towards active production.
YTD Price Performance: 6.58%
Average Trading Volume: 7,608
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $225M
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